I dont know, but I watch and have contemplated buying but waiting. Maybe thats the reason - others are waiting.
The reason I am waiting is the view the company still has problems to sort out. The last 3 Qtrly reports have had Admin/interest/other expenses (NOT production) of between $1 million to $1.2m (~$3.2 million for the 9 months) yet revenue has been $1.2 million (gross) for the same period. I (and could easily be wrong) calculate this based on the quote of ~10% margin on production (page 8 recent presentation), total sales of $20 million and 60% ownership of this facility, thus revenue.
This story is of interest to me as I think its got legs, but am waiting to see self sustaining production prior to getting in. More equity and /or debt not could be required. Maybe if thats whats happening to others, absence of buyers means the price softens and I might miss an opportunity if they turn around as they promise. Either way, still watching closely.
HAZ Price at posting:
2.9¢ Sentiment: Hold Disclosure: Not Held
